Gilman Hill Asset Management LLC's Q4 2022 13F reveals changes in top holdings and strategic investments

Gilman Hill Asset Management, LLC recently published their Q3 2022 and Q4 2022 13F holdings comparison, revealing a number of changes in their current portfolio. The analysis of the data points to some interesting trends in the fund’s investment choices over the last quarter.

The 13F filing is filed quarterly by institutional investment managers in the United States with at least $100 million in equity assets under management. The report details the investment manager’s equity holdings and includes information about each holding such as the name of the issuer, the class of the security, the CUSIP number and the number of shares held. This information can be used by investors to get an idea of the fund's investment strategy, the sectors and industries in which the investments concentrate, and to make trades based on this information.

While Gilman Hill Asset Management LLC made a few trades during Q4 2022, the fund predominantly held onto its top holdings, which have been consistent over the past four quarters. Pfizer Inc, International Business Machs, and Iron Mtn Inc Del continue to be the fund’s top three holdings, with a combined value of $36.6 million in Q4 2022. The fund only reduced its holdings in Pfizer by 3.7% and International Business Machs by 1.9%, but increased its holdings in Iron Mtn Inc Del by 1.7% from Q3 2022.

Another notable change in the fund’s holdings is in Verizon Communications Inc. The fund increased its holdings by a staggering 99.3%, from 124,072 shares in Q3 2022 to 238,308 shares in Q4 2022. The value of the holding increased significantly as well, from $4.7 million to $9.4 million. This large increase in holdings corresponds with the announcement by Verizon Communications Inc of a 5G network expansion and will likely generate speculation as to the fund’s intentions.

The fund also made some significant new purchases, namely Advance Auto Parts Inc and Postal Realty Trust Inc. The fund’s purchase of Postal Realty Trust Inc during Q4 2022 was particularly noteworthy, with the fund purchasing 357,055 shares of the company, which has a significant presence in the postal sector in North America. Postal Realty Trust’s shares gained over 9% during Q4 2022, indicating that the fund has made an astute investment.

The semiconductor industry also had a good showing, with several semiconductor companies included in the fund's top holdings. Microsoft Corp, with its strong presence in the personal computer industry, made a significant gain in the fund's holdings, with the fund increasing its shares by 2.9%. Apple Inc on the other hand had a shaky quarter, with a decrease in both shares held and the value of the holdings.

The fund's holdings in oil and gas companies Chevron Corp New and Kinder Morgan Inc Del decreased by 10.4% and 8.1% respectively, likely reflecting investor concern over the recent volatility in the oil and gas sector. Unum Group, a provider of disability insurance, also saw a significant decrease in the value of the fund’s holdings, a 21.3% drop from Q3 2022 to Q4 2022. The decrease in holdings could be indicative of a lack of confidence in the company’s future prospects.

In conclusion, Gilman Hill Asset Management LLC’s Q4 2022 filing reveals a variety of changes in the fund’s holdings, reflecting both an awareness of market trends and a focus on specific sectors such as semiconductors and postal delivery. While the fund made some bold trades, it predominantly held onto its top holdings, indicating a confidence in its investment choices for the past year. It remains to be seen if these choices will continue to pay off in the future.